Value Stocks Look Poised to Outperform the Market

A stock-market selloff in a strong economy typically paves the way for the cheapest shares to rebound. Also, Quanta Services could power up.

“How poor are they that have not patience,” Shakespeare wrote in Othello. Yet the patience of value investors has been rewarded poorly this year.

The recent drubbing of the Standard & Poor’s 500 index has accomplished many things: It has sent investors fleeing from mutual funds, prompted market strategists to cut their S&P price targets, and caused valuations to fall. But it hasn’t encouraged investors to buy the market’s...